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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: SpudFarmer who wrote (9159)	1/3/2000 1:26:00 PM
From: Manx	Respond to of 29987

Monday January 3, 1:11 pm Eastern Time RESEARCH ALERT-Globalstar target raised CHICAGO, Jan 3 (Reuters) - ABN AMRO said Monday it raised its price target on satellite phone company Globalstar Telecommunications Ltd. to $60 per share from $35, citing confidence in the company's prospects. -- ``We have raised our price target to $60 from $35, based on our confidence in the outlook for Globalstar that supports changes in our valuation method,' analyst Kenneth Leon said in a research note. ``Clearly, Globalstar is now positioned to be the first mobile satellite service in full operation in 2000, which should be a market advantage.' -- Leon estimated Globalstar would sign up 400,000 retail subscribers in 2000, and generate total revenue of $239 million. The company had forecast a 550,000 to 600,000 subscriber target by year-end 2000, he said. ``We believe that target may be too aggressive with less than the 12 months of operations in 2000,' he said. -- Leon said shares would likely remain volatile near-term. -- The stock was up 2-1/4 at 46-1/4.